Wednesday, December 21 2011 21:45

Central Bank: In 2011 exports will grow by 18-20%, while imports will drop by 1-3%


ArmInfo. In 2011 exports in Armenia will grow by 18-20%. In Jan-Sept 2012 exports will grow by 5-7%.

In 2011 imports will drop by 1-3%, while in Jan-Sept 2012 the index will grow by 1-3%.

In 2011 the share of current account in GDP will make up 12%, in 2012 - 9-11%. Due to external risks Armenia will see reduction in exports, foreign investments and financial inflows.

Dropping raw material prices and economic decline in the world are having a bad effect on the Russian economy and will reduce Armenia's exports and financial inflows.

According to the National Statistical Service, in Nov 2011 Armenia's foreign trade turnover grew by 0.1%, as compared with Nov 2010 - by 10.2% to 192.8bln AMD ($504.5mln): exports grew by 9.9% and 22.3%, respectively, to 47.4bln AMD ($124.1mln), while imports will drop by 2.8% and grow by 6.7%, respectively, to 145.4bln AMD ($380.4mln).
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